The companies known as Fleet Mutual Wealth Limited and MWF Financial — collectively called Mutual Wealth — falsely promised investors returns of 2 to 3 percent per week, according to the statement. It claims to use a trading strategy that allows “capital to be invested into securities for no more than a few minutes.” Almost nothing the company told investors is true, according to the SEC.

Mutual Wealth maintains Facebook and Twitter pages that can be used as platforms to find new investors. The SEC statement cited social media activity from Mutual Wealth, including one post to Facebook on Aug. 12, 2013, that said “$1000 investment into the Growth and Income Portfolio made on April 8th, 2013 is now worth $2,112.77.”

Mutual Wealth encouraged current investors to recruit new investors in exchange for a referral fee or commission. Some existing investors have used YouTube, Skype, Facebook, and Twitter to find referrals, according to the SEC.

“Mutual Wealth used Facebook and Twitter as well as a team of recruiters to spread a steady stream of lies that tricked investors out of their money,” Gerald W. Hodgkins, an associate director at the SEC, said in a statement.

About 150 U.S. investors have opened accounts with Mutual Wealth, investing a total of at least $300,000.

The SEC obtained a federal court order to freeze accounts holding money for the company. It charged Mutual Wealth with violating Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-S.